44-5005. Transfer
A. A note or other evidence of indebtedness given by a buyer in respect of a home
solicitation sale shall be dated not earlier than the date of the agreement or offer to
purchase. Any transfer of a note or other evidence of indebtedness bearing the statement
required by subsection B of this section shall be deemed an assignment only and any
right, title or interest which the transferee may acquire thereby shall be subject to all
claims and defenses of the buyer against the seller pursuant to the provisions of this
chapter and sections 44-144 and 44-145.
B. Each note or other evidence of indebtedness given by a buyer in respect of a
home solicitation sale shall bear on its face a conspicuous statement as follows: "This
instrument is based upon a home solicitation sale, which is subject to the provisions of
title 44, chapter 15. This instrument is not negotiable."
C. Compliance with the requirements of this section shall be a condition precedent
to any right of action by the seller or any transferee of an instrument bearing the
statement required under subsection B of this section against the buyer upon such
instrument and shall be pleaded and proved by any person who may institute an action or
suit against a buyer in respect thereof.
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